Insurance Requirements Updated for RFPs and Contracts
Insurance Requirements Updated for RFPs and Contracts
Subsite navigation May 7, 2021
Ohio University Enterprise Risk Management & Insurance in collaboration with the IUC-RMIC (Risk Management & Insurance Consortium) have updated the Recommended Insurance Requirements for new RFPs and Contracts. These requirements can be found here on the Risk Management webpage. Some significant changes for new contracts and renewals only: Employers’ Liability has increased from $500K to $1M, and the Cyber Liability (for contracts with service providers who have access to credit card information, student or employee records, health records, or any other Personally Identifiable or Protected Health Information) has risen from $1M to $5M. While the increase for the Employers’ Liability was not a surprise, the Cyber Liability requirement reflects the negative impact the pandemic has had on the industry.
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05 May 2021, 07:55 GMT+10
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Trisura Guarantee a Top Small & Medium Employer for Fifth Year in a Row
After months of anticipation, Mediacorp Canada Inc. has released their coveted list of Canada s top small and medium employers. And, for the fifth consecutive year, Trisura Guarantee is thrilled to be one of them.
Winners of the competition, now in its eighth year, are selected based on several factors, including physical workplace, work atmosphere and health, wellness and financial benefits. This year, however, the editors of the Canada s Top Small & Medium Employer list also looked for how organizations approached the unique challenges of the pandemic. In an unforeseen landscape, it has been necessary for companies to be flexible, quick to respond with solutions and helpful with employees concerns.
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New York issues cyber insurance framework as ransomware, SolarWinds costs mount
State looks to protect one of its core industries, which is threatened by mounting and potentially unsustainable losses due to the SolarWinds and ransomware attacks Credit: Dreamstime
On February 4, 2021, New York became the first state in the US to issue a cyber security insurance risk framework to all authorised property and casualty insurers.
In releasing the framework, New York s Department of Financial Services (DFS) said that from the rise of ransomware to the recently revealed SolarWinds-based cyber-espionage campaign, it is clear that cyber security is now critically important to almost every aspect of modern life – from consumer protection to national security.